FX.co ★ Indicator analysis. Daily review for the GBP/USD pair on April 12, 2021

Trend analysis (Fig. 1).

On Monday, the market may continue to move downward from the level of 1.3705 (the closing level of last Friday's daily candlestick) to the target set at 1.3562 - the 23.6% retracement level (red dotted line). After testing this level, it is likely to continue going down to the target set at 1.3532 - the support line of the descending channel (blue bold line). And upon reaching this line, it may rise to the target set at 1.3668, lower fractal (blue dotted line).

Figure 1 (Daily Chart).

Comprehensive analysis:

• Indicator analysis - down;
• Fibonacci levels - down;
• Volumes - down;
• Candlestick analysis - up;
• Trend analysis - down;
• Bollinger lines - down;
• Weekly chart - down.

General conclusion:

Today, the price may continue to move downward from the level of 1.3705 (the closing level of last Friday's daily candlestick) to the target set at 1.3562 - the 23.6% retracement level (red dotted line). After testing this level, it is likely to continue going down to the target set at 1.3532 - the support line of the descending channel (blue bold line). And upon reaching this line, it may rise to the target of 1.3668 lower fractal (blue dotted line).